As this year’s super El Niño weather pattern continues to impact global temperatures, climate change has become a popular topic among homeowners — especially those with a long-term view of where they settle. This is because some areas may eventually see insurance rates rise and home values fall if climate change negatively impacts them. Budget-conscious consumers interested in current everyday prices may want to scroll down to the article with tips for reducing their grocery bills.
Home financing
Reasons to buy when prices seem high
Anyone thinking about buying a home is probably wondering if there is ever an ideal time to do so. Although it may seem reasonable to wait for interest rates to fall, this may not be the best strategy. Rates are never predictable, and have been much higher in past years.
Here are some other reasons why buying now is the right decision.
The fun starts right away. New homeowners often realize how moving from a rental home to a home has dramatically improved their lifestyle in just days. They enjoyed meeting new neighbors, entertaining friends and family, and even improving their pets’ lifestyles.
Deferring stocks can be expensive. Most homeowners realize that owning a home benefits them in many ways, including the equity they accumulate each year. Equity increases as the mortgage is paid off and when property values rise.
Dream homes don’t wait. Buyers intent on moving to an established neighborhood, or seeing a For Sale sign in front of a long-coveted bungalow or colony, can miss out on a one-time opportunity by waiting for prices to drop.
Increases in real estate prices are slowing. The price increases seen in previous years have disappeared. Today’s sellers take a more realistic view of the current value of their homes and price them accordingly. Creators may offer temporary purchases at rates (Ask your local APM loan advisor if you don’t know what these are) and price reductions in selected markets.
Source: nar.realtor
insurance
Yes, you can secure it
We all realize that we need insurance for our vehicles and home. But there are plenty of specialist policies available that may actually be worth a look, depending on your lifestyle and future plans.
Wedding insurance protects against loss if the ceremony is canceled or postponed due to a natural disaster or personal tragedy. Some policies also provide coverage for outdoor weddings (what if it rains or snows?), guest injuries, and honeymoon cancellations.
Bed bug insurance is something to consider if you travel frequently and bring back some unwelcome house guests. It can cost thousands to exterminate them. You may be able to add this coverage to your existing homeowners or renters policy.
Lottery insurance can be beneficial if you own a business and your employees have a lottery pool. If their numbers show up, they can all quit and leave you alone. This coverage helps you manage while hiring new employees. (You may not need coverage if you’re in a lottery pool, too.)
Exotic pet insurance is often described as livestock insurance. People who share their home with pigs, ducks, chickens or other animals that typically live outdoors are candidates.
Alien kidnapping insurance does exist, but claiming it is a challenge. This is because anyone claiming to have been abducted is required to provide proof, and aliens are not big on documenting their interactions with Earthlings.
This article is provided for your information. If you have any questions about specialized insurance policies that might give you peace of mind, talk to your insurance company.
Source: Policygenius.com
In the news
How long-term climate change may affect house prices
Homeowners at risk from natural disasters like hurricanes and wildfires are already seeing changes when it’s time to renew their homeowners insurance policy. Unfortunately, climate change may also eventually affect the value of their homes.
A study by researchers at the First Street Foundation looked at the effects of climate change on regional real estate over the coming decades. Since real estate values in some areas of the country are expected to decline by nearly $1.5 trillion in total, other properties could increase in value to the tune of $244 billion.
The First Street Foundation report also found that by 2055, climate-driven weather is expected to raise homeowners’ insurance premiums across the country by an average of 29.4%. Meanwhile, 55 million Americans are expected to leave areas vulnerable to extreme heat, wildfires, and floods between now and 2055. This mass exodus is being described as “climate migration.” It is estimated that more than 5 million people will move this year or have already done so.
This report indicates that the three largest states in the Sun Belt — California, Florida, and Texas — will eventually begin to lose population to other, cooler states. They have already borne more than 40% of the nation’s $2.8 billion in natural disaster costs since 1980. (By contrast, Florida and Texas are still welcoming newcomers this year.)
Source: cbsnews.com
Credit and consumer finance
More consumers expect permanent inflation
the The latest poll was conducted by the University of Michigan It found that consumer sentiment declined in August, with more respondents expecting inflation to persist.
Inflation expectations for the next 12 months rose to 4.3% in mid-August, compared to 4.2% in July. This is actually higher than the current level of consumer prices, which are now 3.4% per year, but people are starting to get tired after five years of rising costs.
The survey’s consumer expectations index reflects the largest loss. The index number for the month came in at 50.6, down from July’s index number of 55.4. The mood is also impacting consumers’ shopping habits, with retail sales down 0.6% for July.
Income growth expectations also declined. Only 8% expect their income growth to exceed inflation next year, down from 18% in December 2024.
If you are concerned about your current or future cash flow, Contact your local APM Loan Advisor So they can have an informal conversation about possible options. They can also provide a referral to a Certified Financial Planner®.
Source: usnews.com
Did you know?
How to reduce grocery waste (and wasted money)
Here’s a number that might surprise you: More than a third of the food available in the United States is never eaten. The causes of this waste begin at harvest, move to the retail sector and end up in consumers’ kitchens.
While food waste impacts the budgets of farms, businesses and consumers, the amount of uneaten food purchased by consumers runs into the thousands annually. The last estimate provided by the federal government dates back to 2010, when researchers from the U.S. Department of Agriculture estimated an annual food waste loss of $1,500 per family of four. Inflation has pushed that number up significantly since then.
However, this number can be reduced by reviewing your food purchasing and storage habits. Take a look at the following strategies.
Before you go shopping:
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Make a list of items with next week’s meals in mind, so you can only buy what you plan to use.
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Check your refrigerator, freezer, and pantry first to avoid buying food you already have.
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Make a list each week of what to use and plan upcoming meals around it.
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Make notes about how many servings you will make with each item. For example: “Enough green salad for two lunches.”
Track meals and their ingredients that you and/or your family enjoy, so you can prepare them frequently. This may also reduce your reliance on food delivery and takeaway services.
When you unpack your groceries:
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The bottom shelves are the coolest part of the refrigerator. Store meat, poultry and fish here.
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Vegetables that are prone to wilting should be placed in the high humidity drawer of the refrigerator.
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Potatoes, eggplant, winter squash, onions and garlic should be stored in a cool, dry, dark and well-ventilated place.
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Most fruits, as well as mushrooms and peppers, should be placed in the low-humidity drawer of the refrigerator.
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SSome fruits (such as bananas, apples, pears, stone fruits, and avocados) release ethylene gas as they ripen. This may encourage neighboring fruits to ripen as well.
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Freeze food such as bread, sliced fruit, meat, or leftovers that you know won’t be eaten in time. Label with contents and dates.
If you’d like to download a colorful infographic to post on your fridge, Click here to review the USDA’s Easy Steps to Prevent Food Waste materials.
Source: usda.gov
